BP cuts stake in wind farms as it focuses on fossil fuels [Yahoo! Finance]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Yahoo! Finance
The oil giant, which has said it wants to be “ a world leader in offshore wind ”, said the joint venture with Japan's largest power producer would mean it will invest up to $5.8bn (£4.5bn) in existing offshore wind projects by the end of the decade. The tie-up with Jera will mean BP's spending on offshore wind will drop sharply from previously anticipated investment of $10bn (£7.8bn) between 2023 and 2030. The company said the deal will create one of the world's largest global offshore wind businesses and also will “significantly reduce BP's anticipated investment into renewables through the rest of this decade”. Shares rose as much as 3.9pc, the biggest gains since April, after it announced the tie-up, which will initially focus on existing projects in North-West Europe, Australia and Japan. Over the summer, BP put all new offshore wind projects on pause as its chief executive shifted its focus to fossil fuels. Murray Auchincloss, who became permanent head of the business
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BP
Earnings
- 10/30/24 - Beat
BP
Sec Filings
- 12/19/24 - Form 6-K
- 12/10/24 - Form 6-K
- 12/5/24 - Form 6-K
- BP's page on the SEC website